Lendlease (Goldfields Residential) Pty Limited v Valuer General of New South Wales [2025] NSWLEC 1046

Lendlease (Goldfields Residential) Pty Limited v Valuer General of New South Wales [2025] NSWLEC 1046

The Court, being satisfied that the jurisdictional prerequisites under the Valuation of Land Act 1916 and Land and Environment Court Act 1979 had been met, and that the parties' agreement was a decision the Court could have made lawfully, upheld the appeals and determined the land value and its apportionment for 1 July 2022 and 1 July 2023 in accordance with the agreement reached between the parties at conciliation.

Parties
Applicant: Lendlease (Goldfields Residential) Pty Limited; First Respondent: Valuer General of New South Wales; Second Respondent: Fiveight OCQ No 1 Pty Ltd
Jurisdiction
Australia
Judgment Date
29 January 2025
Procedural Posture
Valuation Appeal (class 3) / Final Orders After Conciliation Conference
Outcome
Appeal upheld
Legal Topics
Land Valuation, Court Appeals, Conciliation Conferences, Objections to Valuation
Property Law Administrative Law Land Valuation Court Appeals Conciliation Conferences Objections to Valuation

Case Brief

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Parties

Lendlease (Goldfields Residential) Pty Limited

Applicant

Valuer General of New South Wales

First Respondent

Fiveight OCQ No 1 Pty Ltd

Second Respondent

Procedural Posture

Valuation Appeal (class 3) / Final Orders After Conciliation Conference

Legal Issues

  1. 1 What is the correct land value for Lots 1-4 in DP1290500 as at 1 July 2022 and 1 July 2023 pursuant to the Valuation of Land Act 1916?
  2. 2 Whether the Court should determine land value and apportionment according to the parties' agreement under s 34 of the Land and Environment Court Act 1979.

Ratio Decidendi

The Court, being satisfied that the jurisdictional prerequisites under the Valuation of Land Act 1916 and Land and Environment Court Act 1979 had been met, and that the parties' agreement was a decision the Court could have made lawfully, upheld the appeals and determined the land value and its apportionment for 1 July 2022 and 1 July 2023 in accordance with the agreement reached between the parties at conciliation.

Court Disposition

Appeal upheld

Orders

  • The appeal is upheld for both proceedings 2024/215070 and 2024/274477.
  • The value of the whole of the land legally described as Lots 1, 2, 3 and 4 in Deposited Plan 1290500 is amended to $505,340,000 for the valuing years 1 July 2022 and 1 July 2023, pursuant to s 6A and apportioned under s 26A of the Valuation of Land Act 1916 as follows: Lot 1 (Residential) 85.30% $431,047,677; Lot 2...